Locally based Tower Realty Partners Inc. partnered with Praedium on the deal. Reckson had owned the 19-year-old property for a little more than a year, according to GlobeSt.com research.

The building's 87% occupancy was a factor in the acquisition. "This investment presented an opportunity to purchase a high-quality asset with an above-market vacancy rate," Praedium vice president Mark Lippmann says in a prepared statement.

The acquisition was Praedium's seventh in metro Orlando. In May 2005, the company paid locally based OABC Ltd. $17.25 million, or $97.45 per sf, for the Orlando Airport Business Center. The 177,000-sf, 96%-leased property is at 5730-5892 S. Semoran Blvd., as GlobeSt.com previously reported. In November, Praedium acquired the 130,887-sf, 85%-leased Longwood Business Center from Union Park Partners Ltd. for $13.75 million or $105 per sf.